JPMorgan Chase (JPM) has been granted permission by a federal judge to proceed with its trade secrets lawsuit against Argus Information & Advisory Services, a subsidiary of TransUnion (TRU), over alleged misuse of its credit card data.
Delaware federal judge Stephanos Bibas denied a motion by the defendants to dismiss JPMorgan's claims under the federal Defend Trade Secrets Act but granted a motion to dismiss the bank's claim under Delaware's Uniform Trade Secrets Act without prejudice, according to the court order on Wednesday.
The court also denied efforts to remove Argus' parent companies, Verisk Analytics (VRSK) and TransUnion, from the case, allowing JPMorgan's lawsuit to proceed against all defendants.
JPMorgan alleges Argus misused confidential data intended for regulatory purposes and used its benchmarking studies, Bloomberg reported Thursday.
JPMorgan Chase, Argus, TransUnion, and Verisk Analytics didn't immediately respond to a request for comment from MT Newswires.
JPM shares were up 1.6%, TRU shares were edging 0.6% lower and VRSK shares were up 0.9% in recent trading.
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